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CredAgro non-bank financial institution sees 7% drop in portfolio

CredAgro non-bank financial institution sees 7% drop in portfolio

07 October 2009 15:09 (UTC +04:00)

Baku. Elnur Huseynguluyev â€“ APA-Economics. As of October 1, Azerbaijanâ€™s non-bank microfinance institution CredAgro posted its portfolio at AZN 47.666 million, down 6.5% from January 1.

CredAgro said majority of the portfolio went to businesses, consumer loans, leasing and agriculture.

The number of customers increased 32% to 18 190.

CredAgro, set up in 2000, is a microfinance institution with a strong focus on agricultural and rural lending.
CredAgro lends loans at 25-36% annually.
It operates 11 branches and 6 offices throughout the country.

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